US jobless claims dip below 300,000 for first time since pandemic: Government

WASHINGTON (AFP) – New applications for United States (US) unemployment benefits dipped below 300,000 last week for the first time since Covid-19 sent them skyrocketing into the millions last year, according to government data released yesterday.

The Labour Department said 293,000 initial claims for unemployment benefit were submitted the week ended October 9, 36,000 less than the previous week and closer to the 256,000 filed on the week of March 14, 2020, before the pandemic caused mass layoffs.